Pune, Aug. 16, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report states that the Coronary Stent Market was valued at USD 9.51 Billion and is projected to attain USD 12.81 Billion by 2030, experiencing a compound annual growth rate of 3.8% from 2023 to 2030.”
Market Overview
A coronary stent is a sophisticated medical device that plays a crucial role in the treatment of coronary artery disease (CAD), a condition where the blood vessels supplying the heart muscle become narrowed or blocked due to the buildup of fatty deposits known as plaque. This narrowing restricts blood flow and can lead to serious complications such as chest pain (angina), heart attacks, and even life-threatening cardiac events. The coronary stent serves as a remarkable engineering solution to restore blood flow and maintain the vitality of the heart muscle.
Market Analysis
The global coronary stent market has witnessed remarkable growth in recent years, driven by a confluence of factors that have reshaped the landscape of cardiovascular care. One of the primary catalysts behind the burgeoning market is the continuous stream of technological innovations. Engineers and medical researchers are continually refining stent design, materials, and coatings to enhance their efficacy and safety. Government initiatives and private insurance schemes that offer reimbursement for coronary stent procedures have significantly boosted market growth. The reduced financial burden on patients encourages them to opt for stent implantation, and this financial support has led to increased adoption rates. Such policies have not only amplified market size but have also promoted equitable access to life-saving treatments.
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Major Players included in this Report are:
- Abbott
- Boston Scientific Corporation
- Medtronic
- B Braun Melsungen AG
- Boston Scientific Corporation
- Stentys SA
- MicroPort Scientific Corporation Terumo Corporation
- Biotronik
- Cook Medical
- C. R. Bard, Inc. & Other Players
Impact of Recession on Coronary Stent Market Growth
The impact of a recession on the coronary stent market can be substantial, influencing aspects ranging from patient demand and healthcare provider practices to medical device innovation and global market dynamics. Adapting to these challenges requires a comprehensive approach that balances cost considerations, patient outcomes, and the long-term sustainability of cardiovascular care.
Coronary Stent Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 9.51 Bn |
| Market Size by 2030 | US$ 12.81 Bn |
| CAGR | CAGR of 3.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Coronary Stent Market: Key Segmentation | • By Type (Bioabsorbable Stents, Bare-metal Coronary Stents, Drug-eluting Stents,) • By Biomaterial (Natural biomaterials, Polymers biomaterials, Metallic biomaterials) • By End User (Ambulatory Surgical Centers, Hospitals, Other) |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Advances in diagnostic tools and increased knowledge of cardiovascular disorders have resulted in earlier identification and treatments. • Lifestyle Changes are the main driver of the Coronary Stent Market. |
Impact of the Russia-Ukraine War
The Russia-Ukraine war has introduced a range of challenges and uncertainties that can impact the coronary stent market. From supply chain disruptions to shifts in demand patterns and research collaborations, the conflict's effects are likely to be felt across the industry. Navigating these challenges will require adaptive strategies from coronary stent manufacturers and stakeholders, as they strive to ensure continued patient access to essential cardiovascular treatments.
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Key Regional Developments
North America has traditionally been a major player in the coronary stent market, with a significant presence of key market players and advanced healthcare infrastructure. The region's focus on technological innovation, research and development, and the presence of well-established healthcare facilities contribute to the demand for cutting-edge stent solutions. The Asia-Pacific region is witnessing a rapid increase in cardiovascular diseases due to changing lifestyles, urbanization, and dietary habits. This trend has spurred the demand for coronary stents.
Key Takeaway from Coronary Stent Market Study
- The Bioabsorbable Stents Segment has captured the attention of both healthcare professionals and patients alike due to its groundbreaking nature. Unlike traditional metallic stents, which remain in the body indefinitely, bioabsorbable stents are designed to gradually dissolve over time, leaving behind a healed vessel without the presence of a foreign object.
- The Natural Biomaterials Segment has emerged as a transformative force, capitalizing on the body's innate compatibility with organic substances. By harnessing the power of natural biomaterials, researchers and medical device manufacturers are ushering in a new era of coronary stent development.
Recent Developments Related to Coronary Stent Market
- Boston Scientific has received FDA clearance for its Synergy Megatron drug-eluting stent, marking a significant advancement in the field of interventional cardiology. This innovative stent is specifically designed to address proximal, fibrotic, and calcified lesions within the coronary arteries.
- Medtronic, a global leader in medical technology, has achieved another significant milestone in the field of cardiovascular interventions. The company has recently been granted a new FDA indication for its innovative approach to percutaneous coronary intervention (PCI) using a drug-eluting stent (DES) specifically designed for bifurcation lesions.
Get an Excel-Data Sheet of the Coronary Stent Market with Detailed Analysis (Sheet Included Market Size & Share of Regions, Countries, and Continents Data)
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Coronary Stent Market Segmentation, By Type
9. Coronary Stent Market Segmentation, By Biomaterial
10. Coronary Stent Market Segmentation, By End User
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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